The Ministry of Housing is facing great challenges to achieve an estimated percentage of its goals to provide adequate housing for citizens at affordable costs. In confirmation of what was stated in the state's general budget for this year and the future plans set in the National Transformation Program 2020 and Vision 2030, the Ministry of Housing must break free from all shackling and restrictive constraints to move towards Strengthening the fruitful partnership with the private sector at all levels, to transform from a ministry that consumes state resources to an institution that pumps financial returns that add to state resources through more flexible ideas and programs that are consistent with the general strategies for the future, especially since the ministry owns more than 300 million square meters that all systems can be involved in its development.

There are many ideas in the minds of many real estate development companies that need strong support from the ministry in overcoming and facilitating obstacles, such as building new cities not far from major cities, where all infrastructure and services are available to withdraw pressure from large cities such as Riyadh and Jeddah. Riyadh and Jeddah, building such cities and vertical housing achieves the strategic goals of the state in the optimal distribution of human resources, population and services, provides thousands of job opportunities for young people and revitalizes trade and investment, in addition to achieving the ministry's lofty goal of solving the housing crisis.

<p class="p1

Last week, the news brought us a memorandum of understanding signed between the Ministry and SABIC in order to benefit and learn about the company's experiences regarding the Ministry, this approach opens wider horizons for cross-fertilization of ideas, and this approach should be generalized to all major companies, and we launch here an initiative to hold a workshop containing major real estate development companies to enlighten the Ministry and benefit from their experiences, and discuss obstacles and laws that prevent the achievement of the desired goals.

<p class="p1" href="p1" target="_blank" target="_blank" size="_blank" size="_blank

What reinforces what we went to is the favorable and good conditions that surround the real estate market, such as the decrease in construction costs and raw materials for it by more than 35%, and the required facilities pushed by the competent authorities, such as incentives to work on the off-plan sales system These facilities have prompted many developers to expand their investments by building residential towers and offering them to citizens with easy payment methods, especially since a large number of buyers are thinking about securing their children's housing future.

<p class="p1

All these circumstances made there is a recovery in the construction market to match the increasing demand that put pressure on owners to provide supply at competitive prices with which the citizen can achieve his hopes for stability.